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China's tax revenue up 27.4% during January-September, quarterly growth pace eases

(Xinhua)

10:10, October 21, 2011

Alibaba Group's booth at an expo in Beijing. The Chinese company's chairman Jack Ma on Thursday has reiterated his strong interest in buying US-based Internet giant Yahoo! Inc. Zhang Kaixin / For China Daily

BEIJING, Oct. 20 (Xinhua) -- China's tax revenue rose 27.4 percent year-on-year to 7.12 trillion yuan (about 1.12 trillion U.S. dollars) in the first three quarters, boosted by a combination of expanding economic activity, price increases and policy adjustments, the Ministry of Finance announced on Thursday.

From January to September, revenue from value-added taxes, which account for 25.5 percent of the country's total tax revenues, increased 18.7 percent from a year earlier to reach 1.81 trillion yuan, the ministry said.

Sales taxes, business and personal income taxes saw a year-on-year increase of 24 percent, 35.8 percent and 34.4 percent, respectively.

Gross consumption taxes, which account for 7.7 percent of China's total taxes, increased 17.7 percent year-on-year to reach 552.37 billion yuan in the first nine months.

The MOF said the growth was largely the outcome of a steadily expanding economy and accompanying inflation.


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